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Some
of our recent assignments
We
have a strong domestic and international private and
corporate client base and advise regularly on a wide
variety of commercial issues. Indeed, we are also presently
legal advisers to several different Maldives Government
Ministries and Institutions.
On our corporate side, you may be interested to learn
that recent instructions to our Firm have included the
following:~
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- acting
for Kerzner Group (formerly Sun
International) and the Bank of Maldives
in connection with a US$ 169 million 6-lender
syndicated loan facility for re-development
of Reethi Rah Resort, the largest ever hotel
re-development project, to be operated under the One & only brand;
- acting for the World Bank’s International Finance Corporation (IFC) in connection with a US$ 25 million re-financing of resort development debt;
- acting
for Ritz-Carlton Hotels/ Marriott International
Inc. in respect
of a US$ 25 million tourist resort hotel
development and management project on Hudhufushi
Island Resort;
- acting
for Citigroup
Asset Management (Singapore)/ Salomon Smith
Barney in connection with banking/investment
services legal and regulatory issues in the
Maldives;
- acting
for Lehman
Brothers and the Bangkok offices of
Hunton & Williams (USA) in connection
with a US$ 30 million Maldives hotel resort
re-financing transaction for Kanu Hura Resort & Spa;
- acting
as retained Legal Counsel to the Hong
Kong and Shanghai Banking Corporation (HSBC)
in connection with all matters relating to its
establishment of a branch office in the Maldives as well as a proposed US$ 30 million hotel development on Fesdu Island;
- acting
for Deutsche
Bank and the Singapore offices of Orrick,
Herrington & Sutcliffe LLP (USA)
in connection with a US$ 48 million Maldives
hotel resort management group transaction relating to Six Senses Group (Owners and operators of Sonevafushi Resort and Soneva Gili Resort);
- acting
for Commercial
Bank of Sri Lanka in connection with
a US$ 10 million Maldives hotel resort construction/re-development
transaction;
- acting
for the Bank of Maldives in connection
with several Maldives hotel resort development
projects, total loan values exceeding US$ 50
million;
- acting
for the Asian
Development Bank on reform of the telecommunications
sector in the Maldives and drafting of competition
legislation;
- acting
for Akerman
Senterfitt & Eidson (Miami) and
Latham
& Watkins (Chicago) during the recent
Steiner
Leisure Limited's acquisition of various
Mandara
Spa Asia entities
- acting
for Triarc International (USA) and the
Sydney offices of Baker
& McKenzie in connection with a
US$ 40 million+ Maldives hotel resort sale and
purchase transaction relating to White Sands Resort and Spa
- acting
for both the international photographer Michael
Friedel and the global sporting company
Adidas
on intellectual property issues in the Maldives;
- acting for Per Aquum Resorts & Spas in connection with the US$ 25 million development of Huvafen Fushi Resort and Spa;
- acting as retained legal Counsel to the Bank of Ceylon;
- acting for Unibank A/S (Denmark) Export and Project Finance Division in connection with a multi-million euro loan to the Maldives Government for STELCO and Intertec power plant project;
- acting for Hilton Maldives Resort & Spa on Rangali Island;
- acting as Legal Counsel in the Maldives for the National Development Bank of Sri Lanka, which along with the International Finance Corporation and several leading local companies set about forming the first finance leasing Company in the Maldives;
- acting as Legal Counsel in the Maldives for Wataniya International FZ-LLC in connection with a US$ 16 million investment in the telecommunications sector relating to it being awarded a licence to provide mobile telecommunication services in the Maldives.
We are presently legal advisers to several different Maldives Government Ministries and Institutions. Some of the Maldives Government work we do are as follows:-
- assignment with Secretary General of the Parliament (People’s Majlis) to update the Maldives Statute Book and to prepare translations of various statutes, including the Maldives Tourism Act 1999 for submission to the Attorney General’s Office;
- acting as Legal Counsel since the Year 2000 to the Maldives Post Limited on all its legal issues;
- acting as retained Legal Counsel since the Year 1999 to the Ministry of Communications, Science & Technology on all its legal issues related to telecommunications issues and regulation, including drafting new legislation for competition and prohibition of anti-competitive behaviour, and appropriate measures to be taken to ensure appropriate measures are implemented in the best interests of consumers in the Maldives (e.g. tariff reductions);
- acting as joint Legal Counsel with the eminent Australian law firm, Blake Dawson Waldron, and assisted in formulating a draft framework for telecommunications legislation in the Maldives;
- subsequently acting as Domestic Legal Consultant to the Asian Development Bank on reform of the telecommunications sector in the Maldives and drafting of legislation to privatise the industry;
- acting as Domestic Legal Consultant on a Customs Capacity Building Project to reform Customs legislation. The project was funded by the Asian Development Bank and headed by the Australian-based international consultants from Stanton and Partners;
- acting as Legal Counsel since the Year 2000 to the Capital Markets Development Unit of the Maldives Monetary Authority/ Ministry of Finance and Treasury, including acting as lecturers to trainee stockbrokers on Regulatory, Legal & Compliance issues;
- assignment with the Capital Markets Department Section to translate the Securities Act 2002 and the Companies Act Amendment Act 2002;
- acting as legislative draftsmen for the Law Commission of the Republic of the Maldives, where our responsibilities included drafting and reviewing legislation prior to it being submitted to Parliament and making any amendments to the legislation as required by Parliament; researching and consultation with experts and those who may be affected by the reforms made; modernisation, improvement and simplification of the law, through formulation of proposals on a systematic basis for consideration by Parliament; consolidation of statutes and statute law revision;
- acting as retained Legal Counsel since the Year 2001 to the Special Advisor to the President of the Maldives and Maldives Transport & Contracting Company Plc in connection with an US$ 18 million land reclamation/dredging and housing development project, involving Fortis Bank;
- acting as retained Legal Counsel to the Hulhumalé Development Unit since the Year 2002 on all aspects of drafting contracts for the US$ 30,000,000 Hulhumalé housing project;
- acting as retained Legal Counsel since the Year 2001 to Maldives Transport and Contracting Co Plc since the Year 2001 on all its legal issues from time to time;
- assignment with the Ministry of Home Affairs, Housing and Environment and United Nations Development Programme on conservation trust fund project, involving translation of various environmental laws and regulations, including the Environmental Protection and Preservation Act 1993;
- acting as retained Legal Counsel since the Year 2002 to the Ministry of Transport and Civil Aviation on all its legal issues;
- acting for the Narcotics Control Board on various property related issues;
- acting as retained Legal Counsel since the Year 2002 to the State Electricity Company Ltd (STELCO) in connection with an electricity plan expansion project;
- acting for the Maldives Swimming and Water Sports Association of the Ministry of Youth and Sports in connection with drafting its new Constitution;
- acting as Legal Counsel to the Special Advisor to the President of the Maldives since the Year 2000 on matters related to Air Maldives and in seeking to re-establish the international airline carried or the Maldives;.
- acting as Legal Counsel since the Year 2000 to the domestic Government-owned airline company, Island Aviation Services.
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